Posted on 10/08/2021 10:03:44 AM PDT by ChicagoConservative27
Reports show that wholesale used car prices climbed to an all-time high in September even though dealership inventories have historically low inventory given the high demand for second-hand cars in the supply chain.
The Manheim U.S. Used Vehicle Value Index showed that the month-over-month in September increased by 5.3 percent in September, which is the highest rise since April. Over the last year, the index increased by 27.1 percent to 204.8.
(Excerpt) Read more at breitbart.com ...
Didn’t Hope and Crosby already do Road to Havana?
-glass
-lamp assemblies
-body panels
-bumpers
but think of the value of all those chips they never recycled.
Drove by a Very Large Ford dealership yesterday, they had 3 New Cars on the Lot, all mustangs, about 2 dozen used cars. This is a dealership that usually has 300-400 plus cars
Meanwhile, the dealership where I bought my vehicle two years ago is offering to sell me a 2021 model for less than what I paid for a 2019 model. One condition of the sale is that the 2019 vehicle must be included as a trade-in.
It's easy to see what's happening here. They're going to take my 2019 vehicle and sell it for almost as much as I paid for it two years ago. Then, the new vehicle I buy will probably be delivered in 12-18 months.
And fake paper tags are taking over Houston. Want to find an illegal? Look at the fake paper license plate tag
“Expires 8/1/92”
We should create a name for this new phenomenon!
I know! I know!
“The law of supply and demand!”
Pretty catchy, eh?
And new car dealers are adding a surcharge to their cars, upwards of $2500 or more: https://www.torquenews.com/1083/dealer-markups-10k-20k-now-common-due-car-shortage-here-s-why
They never recycle those chips because they have no value in other cars.
I suspect the ECM and similar smart parts are pulled too. There is a robust used market for those items and they are easy items to extract.
Where I’m at 2 year old toyota Tacomas are selling for more than they did when new
Interesting is this phenomenon started earlier this year.
In June I bought a used 2007 Volvo SUV just to have another set of wheels and one that I didn’t need to worry about. Sacramento has some of the nation’s worst drivers and spending $50k on something that can quickly get totaled doesn’t make sense to me.
I paid $7k which was a smidge below market. When I took the vehicle to my Volvo dealer for a bumper-to-bumper inspection the only thing they found was that the gasket on the master cylinder needed to be replaced. $22. The car was otherwise pristine.
The sales manager came to see me and offered me $10k on the spot for the car. I asked why and he said “Look around, we need some decent cars to sell.”
I declined but that was my first wake up call to this odd event going on in the new and used car market.
I’m so glad I bought my used car in August.
I had been looking for a car but the prices were ridiculous. Fortunately I found a private party seller who had an older car. I paid too much for that too; but it runs great, interior is mint, minor exterior stuff you’d expect on an older car, and I stayed well inside my budget.
If only one of my Jeeps or that K5 was roadworthy, I’d do ok selling my 16 Tacoma.
Follow the Science!
Yet on fakebook I keep getting these3 ads claiming that dealers are needing to deeply discount their used inventory because of poor sales.
Could they be lying? LOL
My neighbor went shopping for a pickup truck. The dealer had a $6,000 markup on the truck. My neighbor went to another town to buy one.
Nothing says its gotta run. People buy projects all the time.
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